This week’s energy headlines are packed with strategic divestments, offshore breakthroughs and infrastructure growth across the Americas and beyond. Here are the top stories shaping the market:
- Occidental Petroleum sells OxyChem to Berkshire Hathaway for $9.7 billion. The deal will help Occidental reduce its debt below $15 billion and save over $350 million annually in interest expenses.
- BP greenlights its Tiber–Guadalupe oil project in the Gulf of Mexico. The new platform will unlock 350 million barrels of recoverable resources and produce up to 80,000 bo/d.
- LLOG Exploration starts production at the repurposed Salamanca facility. This marks the first time a Gulf of Mexico platform has been refurbished and returned to service, boosting offshore efficiency.
- Targa Resources expands in the Permian Basin. Three new projects—Speedway NGL pipeline, Yeti processing plant and Buffalo Run gas pipeline—will enhance basin-wide capacity and connectivity.
- Tourmaline Oil sells royalty interests to Topaz Energy for C$72 million. The deal covers 134,000 Montney acres and supports Tourmaline’s long-term growth strategy.
Additional Developments
International stories this week include GeoPark entering Argentina’s Vaca Muerta shale play and TotalEnergies selling stakes in Norwegian fields.
Black Bayou Energy has received FERC approval for its massive salt dome gas storage hub in Louisiana.
In the renewables space, Enlight Renewable Energy secured $390 million in tax equity financing for its nearly one-gigawatt Roadrunner solar-plus-storage project in Arizona.
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